Fitch plans to withdraw ratings of Kotagala Plantations on commercial reasons

28 July 2020 08:38 am - 0     - {{hitsCtrl.values.hits}}

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Fitch Ratings plans to withdraw the ratings of Kotagala Plantations PLC for commercial reasons, on or about August 21, 2020.


Fitch currently rates Kotagala Plantations’ National Long-Term Rating at ‘RD(lka)’ and Senior Secured Rating 
at ‘C(lka)’.


The rating agency said it reserves the right in its sole discretion to withdraw or maintain any rating at any time, for any reason it deems sufficient. 


“Fitch believes that investors benefit from increased rating coverage by Fitch and is providing approximately 30 days’ notice to the market of the rating withdrawal of Kotagala Plantations,” the rating 
agency said.


Fitch’s last rating action for the entity was on May 28, 2020. The ratings
were downgraded.

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